Steve1872 4 Posted March 4, 2015 Share Posted March 4, 2015 Charles Paterson @charlesp_sky 3m3 minutes ago London Stock Exchange has confirmed to me that Friday's EGM at @RangersFC can go ahead as planned despite suspension of trading 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted March 4, 2015 Share Posted March 4, 2015 EGM should have no need to go ahead, what an utter waste 0 Quote Link to post Share on other sites More sharing options...
Steve1872 4 Posted March 4, 2015 Share Posted March 4, 2015 Andrew Dickson @mrandrewdickson 2m2 minutes ago Had an interesting email exchange with WH Ireland earlier, who were adamant both 'EGMs' took place as and when they were meant to today. That's despite me speaking to Rangers shareholders who went to both hotels and couldn't find any sign of a meeting at either venue. Oh, and despite me speaking to events staff from both hotels on the phone and being told Rangers did not hold meetings in their premises. Even though the EGM is at Ibrox tomorrow, both former meeting venues had to open and adjourn a meeting at designated times today. Not entirely sure why there is a need for that as such but those are the rules and the seemingly pointless formality is part of the process. Anyway, basically WH Ireland are at it, which don't surprise many of you. No wonder we are where we are in this whole sorry saga. 0 Quote Link to post Share on other sites More sharing options...
Steve1872 4 Posted March 4, 2015 Share Posted March 4, 2015 Matthew Lindsay @MattLindsayHT 2m2 minutes ago I am no financial expert (or a football one even) but I am reliably informed Rangers having their shares suspended is "inconsequential". 0 Quote Link to post Share on other sites More sharing options...
Steve1872 4 Posted March 4, 2015 Share Posted March 4, 2015 Matthew Lindsay @MattLindsayHT 1m1 minute ago I am told - and, once again, I stress I have no expertise here - that Rangers can still trade shares. Just not on the AIM Stock Exchange. 0 Quote Link to post Share on other sites More sharing options...
Steve1872 4 Posted March 4, 2015 Share Posted March 4, 2015 http://www.telegraph.co.uk/sport/football/teams/rangers/11449904/Rangers-share-trading-suspended-although-board-claim-they-tried-to-stop-process.html [h=1]Rangers share trading suspended although board claim they tried to stop process[/h] By Roddy Forsyth5:00PM GMT 04 Mar 2015Comment Rangers’ shares were suspended from trading on Wednesday afternoon in the latest shock for the club’s dazed supporters ahead of Dave King’s predicted victory in Friday’s extraordinary general meeting. Trading came to an abrupt halt at 4pm with a statement from the company’s nominated Stock Exchange adviser (Nomad), WH Ireland. The version rendered to Telegraph Sport by the Rangers board is that the decision was made by the Nomad despite four and a half hours of argument from the remaining Ibrox directors – chief executive, Derek Llambias, and finance director, Barry Leach – to dissuade the adviser from pursuing this course of action. When informed of the latest development, King told Telegraph Sport: "This was done contrary to W H Ireland's commitment to me and without notification." Nobody from WH Ireland was available to comment. Rangers now have 30 days to appoint another Nomad and convince the AIM market that the directors – perhaps including King – are fit and proper people to be in charge of the club. [h=2]Related Articles[/h] SFA fines Ashley over dual ownership breach 03 Mar 2015 SFA defers decision on Ashley charges 02 Mar 2015 King wins battle for control of Rangers 01 Mar 2015 Rangers board could replace Easdale prior to EGM 27 Feb 2015 If the AIM regulators do not accept a new Nomad or are not persuaded that the composition of the new board meets their criteria, Rangers' shares will become delisted and will only be available for trading privately. King has stated repeatedly that he will install a new Nomad and that he is confident that he will pass the tests required by AIM and also the Scottish Football Association. The adviser’s statement read: “The Company has been informed that its Nominated Adviser ("NOMAD") does not believe that it can satisfy the London Stock Exchange in relation to its NOMAD obligations in respect of the appropriateness of the Company's securities to be admitted to AIM, and therefore the NOMAD has resigned as Nominated Adviser to Rangers with immediate effect. “Accordingly Rule 1 of the AIM rules for Companies will apply, and trading in the Company's AIM securities will be suspended with immediate effect. If the Company is not able to restore trading within one month, admission of the Company's securities to AIM will be cancelled. “If requested during the suspension period WH Ireland is willing to assist the Company to implement the necessary changes for WH Ireland or another Nomad to become satisfied as to the Company's appropriateness for AIM. “If a Nominated adviser is appointed it may apply to the London Stock Exchange on behalf of the Company for trading to be restored. The Directors are disappointed that this event has had to take place despite the considerable efforts they have made over the last few weeks and months against the backdrop of the general meeting requisition and wish also to record their appreciation to their outgoing NOMAD for all it has done for the Club.” Telegraph Sport revealed on Tuesday that, although Llambias and Leach would remain on the board until King formally assumed control, WH Ireland would resign. It is understood that counting of the proxy votes – the deadline for which fell on Wednesday morning – indicated a clear majority in favour of a change of governance at the crisis-torn club. 0 Quote Link to post Share on other sites More sharing options...
Oleg_Mcnoleg 50 Posted March 4, 2015 Share Posted March 4, 2015 If Forsyth says the current board didn't want WHI to resign, then I'm inclined to think it a good thing. But maybe not. 0 Quote Link to post Share on other sites More sharing options...
colinstein 294 Posted March 4, 2015 Share Posted March 4, 2015 Nomad high tails it out of town Llambias and Leech should get going while the going's good tar and feathers are what they deserve 0 Quote Link to post Share on other sites More sharing options...
andy steel 0 Posted March 4, 2015 Share Posted March 4, 2015 The initial reaction has to be good riddance. 0 Quote Link to post Share on other sites More sharing options...
BlueSolace 0 Posted March 4, 2015 Share Posted March 4, 2015 The question is are there any more surprises before Friday...has the NOMAD taken cold feet and legged it out of town .... 0 Quote Link to post Share on other sites More sharing options...
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